Skip to main content
NVDA+3.16%AAPL-2.13%MSFT+1.78%GOOGL+0.04%AMZN+1.05%TSM+2.26%SPCX+3.60%AVGO+3.20%TSLA-1.24%META+2.40%LLY+0.82%BRK-B+0.28%SKHY+3.14%WMT-1.84%MU+2.57%JPM-1.29%AMD+5.04%V-0.86%XOM-0.72%JNJ-0.83%ASMLa-1.38%MA-1.47%ABBV-0.09%1398.HK-0.51%0700.HK+1.27%COST-1.64%CVX-0.58%KO-0.94%CSCO+1.52%ORCL+5.52%PG-1.12%UNH+0.76%BAC-0.15%0939.HK-0.30%0857.HK-0.83%GE+1.43%HD-2.87%1816.HK-0.84%INTC+1.43%PM-0.14%3988.HK-0.17%AP2d-2.56%AMAT+1.87%NVS-0.86%1288.HK-1.93%0005.HK+0.30%MS-0.43%HSBA.L-1.79%LRCX+2.01%AZN-1.06%AUDCHF-1.40%EURAUD+1.21%GBPAUD+1.13%CHFJPY+1.11%USDMXN+1.10%NZDMXN+1.01%AUDUSD-0.91%EURJPY+0.87%NZDCHF-0.82%GBPJPY+0.82%AUDCAD-0.72%CADCHF-0.69%EURNZD+0.60%USDJPY+0.59%AUDNZD-0.59%AUDNOK-0.57%GBPNZD+0.53%NOKJPY+0.52%USDCHF-0.51%EURCAD+0.50%PLNJPY+0.46%AUDDKK-0.44%CHFNOK-0.44%GBPTRY+0.41%CADJPY+0.41%GBPCAD+0.37%EURCNH+0.37%GBPHKD+0.32%AUDJPY-0.32%GBPCHF-0.31%NZDUSD-0.31%EURUSD+0.30%NZDJPY+0.29%GBPMXN-0.28%AUDSGD-0.26%USDCNH+0.26%EURCHF-0.24%GBPSGD+0.23%GBPUSD+0.20%SGDJPY+0.19%USDCAD+0.19%EURSGD+0.18%GBPZAR+0.18%USDILS+0.16%EURSEK+0.16%USDNOK-0.16%USDSGD+0.15%USDTRY+0.15%CHFSEK-0.14%USDSEK+0.13%NZDCAD-0.13%EURNOK-0.13%EURZAR+0.13%CHFSGD-0.11%USDZAR+0.11%USDPLN-0.10%EURGBP+0.09%NZDSGD+0.07%EURPLN-0.07%EURCZK+0.05%USDCOP-0.04%EURHKD+0.03%USDDKK-0.03%USDHKD+0.02%EURDKK0.00%USDTHB0.00%COFFEE-3.42%SUGAR-3.31%HG1-2.12%GAGUSD-1.89%XAGUSD-1.88%XNGUSD+1.67%XPTUSD-1.14%UKOIL-0.80%COTTON-0.68%XAUUSD-0.49%GAUUSD-0.49%W1+0.48%BTCUSD+1.38%ETHUSD+27.62%USDTUSD+0.03%XRPUSD+20.15%SOLUSD+28.89%TRXUSDT+1.27%ZECUSDT+6.90%DOGEUSD+26.40%XMRUSDT+3.40%LINKUSD+28.80%BCHUSDT+0.25%XLMUSD+0.65%UNIUSD+3.55%LTCUSD+24.71%SUIUSD+2.87%HBARUSDT+0.25%TONUSD+45.17%TAOUSDT+1.69%AAVEUSD+1.74%DOTUSDT+0.10%ICPUSDT+2.27%ONDOUSDT+1.29%WLDUSDT+0.24%ARBUSDT+2.29%JUPUSDT+3.17%INJUSDT+4.64%ATOMUSDT-1.04%STXUSDT+0.06%PYTHUSDT+6.79%TIAUSDT-2.27%FETUSDT+0.50%SEIUSDT+3.85%IMXUSDT-0.46%OPUSDT+0.76%GRTUSDT+1.74%WIFUSDT+1.83%POLUSDT+4.46%IOTAUSDT+2.61%AXSUSDT+1.77%EOSUSDT+1.45%FARTCOINUSDT+2.35%DYDXUSDT+2.40%GALAUSDT+1.21%ORDIUSDT+2.46%RONINUSDT+1.81%NOTUSDT+0.58%NVDA+3.16%AAPL-2.13%MSFT+1.78%GOOGL+0.04%AMZN+1.05%TSM+2.26%SPCX+3.60%AVGO+3.20%TSLA-1.24%META+2.40%LLY+0.82%BRK-B+0.28%SKHY+3.14%WMT-1.84%MU+2.57%JPM-1.29%AMD+5.04%V-0.86%XOM-0.72%JNJ-0.83%ASMLa-1.38%MA-1.47%ABBV-0.09%1398.HK-0.51%0700.HK+1.27%COST-1.64%CVX-0.58%KO-0.94%CSCO+1.52%ORCL+5.52%PG-1.12%UNH+0.76%BAC-0.15%0939.HK-0.30%0857.HK-0.83%GE+1.43%HD-2.87%1816.HK-0.84%INTC+1.43%PM-0.14%3988.HK-0.17%AP2d-2.56%AMAT+1.87%NVS-0.86%1288.HK-1.93%0005.HK+0.30%MS-0.43%HSBA.L-1.79%LRCX+2.01%AZN-1.06%AUDCHF-1.40%EURAUD+1.21%GBPAUD+1.13%CHFJPY+1.11%USDMXN+1.10%NZDMXN+1.01%AUDUSD-0.91%EURJPY+0.87%NZDCHF-0.82%GBPJPY+0.82%AUDCAD-0.72%CADCHF-0.69%EURNZD+0.60%USDJPY+0.59%AUDNZD-0.59%AUDNOK-0.57%GBPNZD+0.53%NOKJPY+0.52%USDCHF-0.51%EURCAD+0.50%PLNJPY+0.46%AUDDKK-0.44%CHFNOK-0.44%GBPTRY+0.41%CADJPY+0.41%GBPCAD+0.37%EURCNH+0.37%GBPHKD+0.32%AUDJPY-0.32%GBPCHF-0.31%NZDUSD-0.31%EURUSD+0.30%NZDJPY+0.29%GBPMXN-0.28%AUDSGD-0.26%USDCNH+0.26%EURCHF-0.24%GBPSGD+0.23%GBPUSD+0.20%SGDJPY+0.19%USDCAD+0.19%EURSGD+0.18%GBPZAR+0.18%USDILS+0.16%EURSEK+0.16%USDNOK-0.16%USDSGD+0.15%USDTRY+0.15%CHFSEK-0.14%USDSEK+0.13%NZDCAD-0.13%EURNOK-0.13%EURZAR+0.13%CHFSGD-0.11%USDZAR+0.11%USDPLN-0.10%EURGBP+0.09%NZDSGD+0.07%EURPLN-0.07%EURCZK+0.05%USDCOP-0.04%EURHKD+0.03%USDDKK-0.03%USDHKD+0.02%EURDKK0.00%USDTHB0.00%COFFEE-3.42%SUGAR-3.31%HG1-2.12%GAGUSD-1.89%XAGUSD-1.88%XNGUSD+1.67%XPTUSD-1.14%UKOIL-0.80%COTTON-0.68%XAUUSD-0.49%GAUUSD-0.49%W1+0.48%BTCUSD+1.38%ETHUSD+27.62%USDTUSD+0.03%XRPUSD+20.15%SOLUSD+28.89%TRXUSDT+1.27%ZECUSDT+6.90%DOGEUSD+26.40%XMRUSDT+3.40%LINKUSD+28.80%BCHUSDT+0.25%XLMUSD+0.65%UNIUSD+3.55%LTCUSD+24.71%SUIUSD+2.87%HBARUSDT+0.25%TONUSD+45.17%TAOUSDT+1.69%AAVEUSD+1.74%DOTUSDT+0.10%ICPUSDT+2.27%ONDOUSDT+1.29%WLDUSDT+0.24%ARBUSDT+2.29%JUPUSDT+3.17%INJUSDT+4.64%ATOMUSDT-1.04%STXUSDT+0.06%PYTHUSDT+6.79%TIAUSDT-2.27%FETUSDT+0.50%SEIUSDT+3.85%IMXUSDT-0.46%OPUSDT+0.76%GRTUSDT+1.74%WIFUSDT+1.83%POLUSDT+4.46%IOTAUSDT+2.61%AXSUSDT+1.77%EOSUSDT+1.45%FARTCOINUSDT+2.35%DYDXUSDT+2.40%GALAUSDT+1.21%ORDIUSDT+2.46%RONINUSDT+1.81%NOTUSDT+0.58%

ARK rotates into Coinbase, Circle, trims Bullish

NEWS

November 3, 2026 at 14:22 UTC

3 min read
Unbranded crypto trading workstation on a financial floor reflecting ARK moves in COIN, CRCL, HOOD and ARKK

Key Points

  • 01ARK bought 24,790 Coinbase (COIN) shares and 35,657 Circle (CRCL) shares across three ETFs
  • 02The firm added 7,703 Robinhood (HOOD) shares while selling 104,172 Bullish shares
  • 03ARK sold 104,172 Bullish shares
  • 04Circle (CRCL) and Coinbase (COIN) now outweigh Bullish in ARKK (ARKK)’s crypto exposure

ARK boosts Coinbase and Circle after crypto stock pullback

Cathie Wood’s ARK Invest has moved to increase its exposure to Coinbase Global and Circle Internet Group while cutting back its holding in Bullish after a slide in crypto-related stocks. Across the ARK Innovation (ARKK), ARK Next Generation Internet (ARKW) and ARK Fintech Innovation (ARKF) ETFs, ARK bought 24,790 Coinbase shares, a trade worth about $3.4 million based on Monday’s closing price of $137.83. Over the same session, it acquired 35,657 Circle shares across the three funds, valued at roughly $2.6 million using Monday’s $72.08 close.

In addition to the Coinbase and Circle purchases, ARK added 7,703 shares of Robinhood Markets (HOOD) in ARKF, a position worth about $645,819 at Monday’s closing price of $83.84. On the selling side, ARK offloaded 104,172 shares of Bullish across ARKK, ARKW and ARKF, a sale totaling approximately $2.3 million based on Bullish’s $22.54 close.

Two-session rotation out of Bullish

On November 2 ARK sold 104,172 Bullish shares.

Within the flagship ARKK fund as of November 2, Circle carried a portfolio weight of 4.5%, Coinbase 3.8% and Bullish 1.5%. Taken together, the two USDC-linked names represented more than five times Bullish’s weight in the portfolio, underscoring the scale of the tilt toward Coinbase and Circle relative to Bullish.

USDC-linked income and upcoming earnings

The trades align ARK’s holdings more closely with revenue tied to the USDC stablecoin. In the second quarter of 2026, about 95% of Circle’s total revenue and reserve income came from USDC reserve income, while in the third quarter of 2026, 26.4% of Coinbase’s net revenue came from stablecoins. Circle’s second-quarter reserve return rate fell by 66 basis points, and average USDC in circulation grew 25% year over year, with reserve income rising 5% over the same period.

Circle is scheduled to report third-quarter results on November 4, and analysts expected about $789 million in revenue and earnings of $0.42 per share for the quarter.

Context around Bullish and broader positioning

Bullish is also in the midst of corporate changes. In May, the company agreed to acquire transfer agent Equiniti in a $4.2 billion deal consisting of $1.85 billion in assumed debt and about $2.35 billion in Bullish stock. Management outlined an issuance of roughly 61 million new shares for the stock portion, and an October 28 filing put Bullish’s fully diluted share count near 156 million, implying material dilution if the deal closes as expected in January 2027, subject to regulatory approvals.

Earlier, Bullish reported second-quarter adjusted revenue of $92.6 million, up 62% year over year and ahead of a consensus estimate of $87.81 million, with adjusted earnings of $0.09 per share. The company has said it will report third-quarter results on November 18. Against this backdrop, ARK’s latest trades leave its flagship ETF more concentrated in Coinbase and Circle, both tied to USDC reserve economics, than in Bullish’s evolving business model.

Key Takeaways

  • 01ARK’s latest activity consolidates crypto exposure into Coinbase (COIN) and Circle (CRCL), with significantly less emphasis on Bullish in its flagship ARKK (ARKK) fund.
  • 02The portfolio now leans more heavily on USDC-related income streams, as Circle and Coinbase both derive meaningful revenue from stablecoins.
  • 03Upcoming earnings from Circle and Bullish will offer clearer visibility on how reserve yields, USDC balances and Bullish’s changing business shape may affect these positions.

References

  1. https://www.cryptoprowl.com/releases/cathie-woods-ark-adds-coinbase-circle-and-robinhood-trims-bullish-after-crypto-stock-slide-7621?.tsrc=rss
  2. https://www.benzinga.com/etfs/broad-u-s-equity-etfs/26/11/62805591/cathie-wood-sells-2-3m-of-peter-thiel-backed-bullish-stock-ark-adds-crypto-names-coinbase-circle-robinhood
  3. https://stocktwits.com/news-articles/markets/equity/cathie-wood-buys-coin-stock-adds-crcl-shares-before-its-results/cNGXbRJR95S
  4. https://coindoo.com/cathiecathie-wood-leans-into-usdc-trims-bullish/
ARK rotates into Coinbase, Circle, trims Bullish | Trading Dashboard